account guide

The global banking system relies on intermediaries to facilitate payments when the sender’s bank does not have an established relationship with the beneficiary’s bank.

According to the World Bank, global remittances reached a record high of USD $630 billion in 2022. These remittances were sent through money transfer operators, which included wire transfers and telegraphic transfers.

In 2022, SWIFT recorded an average of 44.8 million transactions per day, a 6.6% growth compared to the same period in the previous year.

The maker-checker workflow on payment applications like Wallex is handy in that it allows one person (“maker”) to make the transaction and then that transaction request is automatically sent to the second person (“checker”) to approve the transaction. Find out more in this article.

USD is a popular currency for doing international business, however it is challenging to open a US bank account overseas. Find out what are the alternatives: corporate multi-currency account, global business account, global collection account for USD, and more.

When making telegraphic transfers (TT) through SWIFT Network, you can use the MT103 document to track your cross-border payment. In this article, we’ll break down what the MT103 document is, why it is so important, and how you can access it through the Wallex platform.

We recently launched the Wallex Network as a quick and easy way to send payments to other Wallex users. This feature is applicable to all existing and new Wallex users, applicable for 14 currencies.

Bulk payments, also known as batch payments and mass payments, are the perfect method for businesses that make regular payments. Each time you wish to make a transaction, it can take a lot of time and resources with the amount of information you have to gather to do so.

When you’re looking to set up a company in Singapore, opening a business bank account should be one of your first steps. Most banks in the country offer many features to open a corporate bank account. In this article we will take a close look at how this process works for a non-Singaporean.